The Invesco S&P 500 Equal Weight Energy ETF (RSPG Quick QuoteRSPG - Free Report) made its debut on 11/01/2006, and is a smart beta exchange traded fund that provides broad exposure to the Energy ETFs category of the market.

What Are Smart Beta ETFs?

For a long time now, the ETF industry has been flooded with products based on market capitalization weighted indexes, which are designed to represent the broader market or a particular market segment.

Because market cap weighted indexes provide a low-cost, convenient, and transparent way of replicating market returns, they work well for investors who believe in market efficiency.

However, some investors believe in the possibility of beating the market through exceptional stock selection, and choose a different type of fund that tracks non-cap weighted strategies: smart beta.

Based on specific fundamental characteristics, or a combination of such, these indexes attempt to pick stocks that have a better chance of risk-return performance.

Even though this space provides many choices to investors--think one of the simplest methodologies like equal-weighting and more complicated ones like fundamental and volatility/momentum based weighting--not all have been able to deliver first-rate results.

Fund Sponsor & Index

Managed by Invesco, RSPG has amassed assets over $558.24 million, making it one of the larger ETFs in the Energy ETFs. This particular fund seeks to match the performance of the S&P 500 EQUAL WEIGHT ENERGY PLUS INDEX before fees and expenses.

The S&P 500 Equal Weight Energy Plus Index equally weights stocks in the energy sector of the S&P 500 Index.

Cost & Other Expenses

Investors should also pay attention to an ETF's expense ratio. Lower cost products will produce better results than those with a higher cost, assuming all other metrics remain the same.

Annual operating expenses for this ETF are 0.40%, making it one of the cheaper products in the space.

It's 12-month trailing dividend yield comes in at 1.98%.

Sector Exposure and Top Holdings

ETFs offer diversified exposure and thus minimize single stock risk, but it is still important to delve into a fund's holdings before investing. Most ETFs are very transparent products and many disclose their holdings on a daily basis.

RSPG's heaviest allocation is in the Energy sector, which is about 100% of the portfolio.

Taking into account individual holdings, Valero Energy Corp (VLO) accounts for about 5.12% of the fund's total assets, followed by Marathon Petroleum Corp (MPC) and Texas Pacific Land Corp (TPL).

Its top 10 holdings account for approximately 43.91% of RSPG's total assets under management.

Performance and Risk

So far this year, RSPG has gained about 33.7%, and it's up approximately 44.25% in the last one year (as of 08/04/2026). During this past 52-week period, the fund has traded between $73.44 and $112.74.

RSPG has a beta of 0.48 and standard deviation of 22.68% for the trailing three-year period. With about 26 holdings, it has more concentrated exposure than peers .

Alternatives

Invesco S&P 500 Equal Weight Energy ETF is an excellent option for investors seeking to outperform the Energy ETFs segment of the market. There are other ETFs in the space which investors could consider as well.

Vanguard Energy Index Fund ETF Shares (VDE) tracks MSCI US Investable Market Energy 25/50 Index and the State Street Energy Select Sector SPDR ETF (XLE) tracks Energy Select Sector Index. Vanguard Energy Index Fund ETF Shares has $9.92 billion in assets, State Street Energy Select Sector SPDR ETF has $38.42 billion. VDE has an expense ratio of 0.09% and XLE changes 0.08%.

Investors looking for cheaper and lower-risk options should consider traditional market cap weighted ETFs that aim to match the returns of the Energy ETFs

Bottom Line

To learn more about this product and other ETFs, screen for products that match your investment objectives and read articles on latest developments in the ETF investing universe, please visit Zacks ETF Center.